Interest Rates For Fiscal Year 2002-2003
Utah Higher Education Assistance Authority (UHEAA) was recently notified of the result of the ninety-one day U.S. Treasury Bills auctioned by the U.S. Department of the Treasury. Based on this bond equivalent rate, new Stafford, PLUS, and Consolidation loan interest rates for the period July 1, 2002 through June 30, 2003 (FY 02-03) will be as follows:
STAFFORD LOANS - IN-SCHOOL, GRACE, AND DEFERMENT PERIODS
For Stafford loans disbursed on or after July 1, 1998 and before July 1, 2003, during the in-school, grace, and deferment periods, the FY 02-03 interest rate is 3.46%.STAFFORD LOANS - REPAYMENT AND FORBEARANCE PERIODS
For Stafford loans disbursed on or after July 1, 1998 and before July 1, 2003, during the repayment and forbearance periods, the FY 02-03 interest rate is 4.06%.PLUS LOANS
For Federal PLUS loans disbursed on or after July 1, 1998 but prior to July 1, 2003, the FY 02-03 interest rate is 4.86%.CONSOLIDATION LOANS
For Federal Consolidation loans for which the loan applications was received on or after October 1, 1998 but prior to July 1, 2003, the interest rate is the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest 1/8th of one percent, not to exceed the maximum rate of 8.25%.A comprehensive chart of the FY 02-03 interest rates applicable to all categories of Federal Family Education Program (FFELP) loans will be distributed when this information becomes available on the U.S. Department of Education's web site.
Any questions related to this Bulletin should be directed to the UHEAA Policy and Training Department at (801) 321-7166, or by e-mail at ceresuma@utahsbr.edu.